- Excellent trading platform
- Favourable trading conditions
- Competitive fees and commissions
- Does not accommodate beginner traders
- No educational or research resources
- No bonuses
- BankWire Trransfer
GlobalPrime is a leading Australian based online trading brokerage that was founded in 2010. The brokerage specializes in the trading of Forex as well as Equities Index and Commodity CFDs. GlobalPrime is owned and operated by Gleneagle Securities (Australia) Pty Ltd and is headquartered at Global Prime Forex, Suite 604, 35 Grafton Street, Bondi Junction, Sydney NSW 2022, Australia. GlobalPrime appears to be reputable and viable online trading brokerage, but are they really and are they right for you? Find out in our in-depth review as we uncover all aspects of this lucrative online trading brokerage.
Global Prime truly is a premium Forex and
CFDs trading brokerage that offers top of the line trading conditions for their
clients. For instance, traders benefit from premium liquidity and execution as
Global Prime has secured relationships with top liquidity providers and
utilizes the best in class technology to maintain an ideal trading environment.
Execution speeds are monitored daily to ensure they are exceeding traders’
expectations and traders benefit from multiple liquidity providers. As for the
trading aspects of Global Prime, clients can trade on leverage of up to 1:200,
have margin call levels of 120% and margin stop out levels of 100%. All in all,
Global Prime traders benefit from very favourable trading conditions.
Global Prime is primarily a Forex broker but
also offers trading on a range of Equities Indexes and Commodity CFDs. As for
the Forex currency pairs offered, clients can trade 42 different currency pairs
including majors, minors, and some exotics. As for the Equities Indexes and
Commodity CFDs offered, clients can trade 14 different CFDs. Overall, the
extent of tradeable products offered by Global Prime is very limited in
comparison to many other online trading brokerages. However, if you’re a trader
who’s focused on solely Forex and a few CFDs, then Global Prime will serve you
Global Prime holds an Australian Financial
Services Licence (AFSL) which grants them the ability to conduct financial
services within Australia. The brokerage is also licensed and regulated by the Australian
Securities & Investments Commission (ASIC). Therefore, Global Prime is
highly capable of providing safe, secure, transparent, and reliable online
trading services. The ASIC is one of the best financial regulatory authorities
in the world and they impose very strict rules and guidelines for Global Prime
to implement and follow.
Global Prime provides their traders with
the highly sophisticated and advanced MetaTrader 4 (MT4) trading platform. The
MT4 trading platform is known to be the world’s most popular forex trading
platform with millions of traders who use it every day. The MT4 trading
platform by Global Prime can be downloaded on to your desktop computer for free
and is simple and easy to install. The platform is very familiar to most
traders and is fairly easy to use and understand for beginners as well. The MT4
platform features an advanced charting package where traders can implement
multiple technical indicators, use numerous drawing and analysis tools, and
view the charts in different time frames and chart types. The platform also
supports multiple advanced order types that help to mitigate risks and increase
profit. As well, traders can participate in automated trading with the
implementation of Expert Advisors (EAs) that run on the MLQ4 programming
language for the MT4 trading platform. All in all, traders will not be
disappointed with Global Primes trading platform offering.
The same MetaTrader 4 (MT4) trading
platform that’s available for desktop computers can be downloaded for free on
mobile devices via the Apple App Store and the Google Play Store. The MT4
mobile trading application is essentially the same, only optimized for mobile
devices including smart phones and tablets. Traders can create watch lists, set
push alerts, analyse charts, place orders, and manage their portfolio directly
from the mobile trading app.
Global Prime offers their traders a choice
of how they want commissions to be charged. For instance, clients can choose
whether they want to be charged a commission on top of the spread, or to
include the commission into the spread. Unfortunately, Global Prime does not
state what their commissions or spreads are, but upon further research we
discovered that the spreads range anywhere from 0.3 pips to as much as 7.2 pips
during peak market hours for the EUR/USD currency pair. Alternatively, the
average spread and commission of the EUR/USD currency pair is 0.5 pips + $7.00
round turn per standard lot. Overall, the spreads and commissions at Global
Prime are competitive with the industry standards.
Deposits & Withdrawals
Global Prime offers traders a rather
limited selection of payment options for deposits and withdrawals. For
instance, traders can only use Visa, MasterCard, Bank Wire Transfer, and
Neteller. When withdrawing funds from your account, they must be withdrawn via
the same method used for deposit. All deposits and withdrawal are free of
charge on the Global Primes end, but the payment processor fees may apply. All
deposits are completed nearly instantly or within 24 hours and withdrawals are
completed within 1 – 5 business days.
The level of customer care and support at
Global Prime is of premium quality. Customers can reach support representatives
24 hours a day, 5 days a week via telephone, email, and live chat. Support reps
are fairly quick to respond and are always friendly and helpful with responses.
Support is available in the English and Chinese languages.
Research & Education
The most disappointing aspect of the Global
Prime online trading broker is that they do not provide their clients with any
sort of educational resources or materials to better their trading and inform
themselves on the markets. As well, the brokerage doesn’t provide an economic
calendar, financial news section, blog, or any other research resources.
Therefore, traders will have to look elsewhere for this material.
Global Prime is a simple yet sophisticated
online trading brokerage that provides traders with a premium trading
environment with favourable trading conditions and low commissions and fees.
The brokerage is well recognized in the financial trading industry for their
excellent level of customer care and service. Traders can test out the Global
Prime brokerage and trading platform via a free live demo account where they
can practice trading and see the extent of tradeable products. Global Prime
accepts traders around the world, but primarily services traders from Australia
Traders looking for a reliable and
reputable online brokerage for the trading of Forex and CFDs will be very
satisfied with Global Prime. The broker provides their traders with an advanced
MT4 trading platform and offers exceptional customer support. The extent of
tradeable assets is rather limited, but the favourable trading conditions and
competitive spreads and commissions make up for it. Beginner traders looking to
learn and gain access to educational resources may be disappointed as Global
Prime focuses more on experienced traders. All in all, Global Prime is a great
Forex and CFDs trading broker and they could be the broker for you.
Broker Comparison Maecenas porta rhoncus dui ut congue. Donec luctus non sem eu euismod. Ut rhoncus mauris non bibendum congue. Donec maximus ipsum a lectus sollicitudin.